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NYSE welcomes digital insurer Lemonade

The New York Stock Exchange is set to welcome online insurer Lemonade Inc. (US:LMND) after it announced its intention to raise up to $286m (£229m) through an initial public offering that values the company at around $1.40bn when pitched at the upper end of the $23-$26 guide price range.

It may not be an opportune moment for tech stock flotations following the recent travails of Wirecard AG (GER:WDI), but the guide price represents a significant discount to Lemonade’s last private fundraising. This seems curious given the hype surrounding the stock, but it has a limited trading history and a relatively untried business model.

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